1. On Friday, Union Agriculture Minister Shivraj Singh Chouhan said India is likely to harvest bumper wheat crop this year because of higher acreage and good crop health. Wheat farmers in many parts of the country are worried over rising temperatures.
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2. Wheat prices at the government’s weekly auction on Wednesday spiked abruptly in most of the State. Industry sources attributed it to the relaxation granted to individual processors to lift a higher quantity.
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3. Unprecedented demand for physical gold from the US Commodity Exchange (COMEX) and speculation over potential Donald Trump administration’s tariffs have led to delays in delivery of the precious metal by London’s vaults and refineries imposing temporary surcharges.
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4. The first long-range forecast for the 2025 monsoon from the India Meteorological Department (IMD) is expected in a few weeks, but major global models are converging on prospects for normal to above-normal rainfall for the country with Pacific weather patterns providing immediate context for the June-September season.
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5. The Government has procured over 14.73 lakh tonnes of soyabean at the minimum support price (MSP) of ₹4,892 per quintal till February 11 this year. It has also procured 13.38 lakh tonnes of groundnut at MSP in the kharif 2024-25 marketing season.
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